Industries in the Insurance Carriers and Related Activities subsector group establishments that are primarily engaged in one of the following: (1) underwriting (assuming the risk, assigning premiums, and so forth) annuities and insurance policies or (2) facilitating such underwriting by selling insurance policies, and by providing other insurance and employee-benefit related services.
5241 Insurance Carriers
This industry group comprises establishments primarily engaged in underwriting (assuming the
risk, assigning premiums, and so forth) annuities and insurance policies and investing premiums
to build up a portfolio of financial assets to be used against future claims. Direct insurance
carriers are establishments that are primarily engaged in initially underwriting and assuming the
risk of annuities and insurance policies. Reinsurance carriers are establishments that are
primarily engaged in assuming all or part of the risk associated with an existing insurance
policy (or set of policies) originally underwritten by another insurance carrier.
Industries are defined in terms of the type of risk being insured against, such as death, loss of employment because of age or disability, and/or property damage. Contributions and premiums are set on the basis of actuarial calculations of probable payouts based on risk factors from experience tables and expected investment returns on reserves.
52411 Direct Life, Health, and Medical Insurance Carriers
This industry comprises establishments primarily engaged in initially underwriting (i.e.,
assuming the risk and assigning premiums) annuities and life insurance policies, disability
income insurance policies, accidental death and dismemberment insurance policies, and health and
medical insurance policies.
Cross-References.
- Establishments primarily engaged in reinsuring life insurance policies are classified in Industry 52413, Reinsurance Carriers;
- Legal entities (i.e., funds, plans, and/or programs) organized to provide insurance and employee benefits exclusively for the sponsor, firm, or its employees or members are classified in Industry Group 5251, Insurance and Employee Benefit Funds; and
- HMO establishments providing health care services are classified in Industry 62149, Other Outpatient Care Centers.
524113 Direct Life Insurance Carriers
This U.S. industry comprises establishments primarily engaged in initially underwriting (i.e.,
assuming the risk and assigning premiums) annuities and life insurance policies, disability
income insurance policies, and accidental death and dismemberment insurance policies.
Cross-References.
- Establishments primarily engaged in reinsuring life insurance policies, disability income insurance policies, and accidental death and dismemberment insurance policies are classified in Industry 524130, Reinsurance Carriers; and
- Legal entities (i.e., funds, plans, and/or programs) organized to provide insurance and employee benefits exclusively for the sponsor, firm, or its employees or members are classified in Industry Group 5251, Insurance and Employee Benefit Funds.
524114 Direct Health and Medical Insurance Carriers
This U.S. industry comprises establishments primarily engaged in initially underwriting (i.e.,
assuming the risk and assigning premiums) health and medical insurance policies. Group
hospitalization plans and HMO establishments (except those providing health care services) that
provide health and medical insurance policies without providing health care services are included
in this industry.
Cross-References.
- HMO establishments that provide both health care services and underwrite health and medical insurance are classified in U.S. Industry 621491, HMO Medical Centers;
- Establishments primarily engaged in reinsuring health insurance policies are classified in Industry 524130, Reinsurance Carriers; and
- Legal entities (i.e., funds, plans, and/or programs) organized to provide health- and welfare-related employee benefits exclusively for the sponsor's employees or members are classified in Industry 525120, Health and Welfare Funds.
52412 Direct Insurance (except Life, Health, and Medical) Carriers
This industry comprises establishments primarily engaged in initially underwriting (i.e.,
assuming the risk and assigning premiums) various types of insurance policies (except life,
disability income, accidental death and dismemberment, and health and medical insurance
policies).
Illustrative Examples:
Automobile insurance carriers, direct; Property and casualty insurance carriers, direct;
Bank deposit insurance carriers, direct; Title insurance carriers, real estate, direct;
Mortgage guaranty insurance carriers, direct; Warranty insurance carriers
(e.g., appliance, automobile, homeowners, product), direct.
Cross-References.
- Establishments primarily engaged in reinsuring insurance policies are classified in Industry 524130, Reinsurance Carriers;
- Legal entities (i.e., funds, plans, and/or programs) organized to provide insurance and employee benefits exclusively for the sponsor, firm, or its employees or members are classified in Industry Group 5251, Insurance and Employee Benefit Funds; and
- Establishments primarily engaged in initially underwriting annuities and life insurance policies, disability income insurance policies, accidental death and dismemberment insurance policies, and health and medical insurance policies are classified in Industry 52411, Direct Life, Health, and Medical Insurance Carriers.
524126 Direct Property and Casualty Insurance Carriers
This U.S. industry comprises establishments primarily engaged in initially underwriting (i.e.,
assuming the risk and assigning premiums) insurance policies that protect policyholders against
losses that may occur as a result of property damage or liability.
Illustrative Examples:
Automobile insurance carriers, direct; Malpractice insurance carriers, direct;
Fidelity insurance carriers, direct; Mortgage guaranty insurance carriers, direct;
Homeowners insurance carriers, direct; Surety insurance carriers, direct;
Liability insurance carriers, direct.
Cross-References.
- Establishments primarily engaged in reinsuring property and casualty insurance policies are classified in Industry 524130, Reinsurance Carriers.
524127 Direct Title Insurance Carriers
This U.S. industry comprises establishments primarily engaged in initially underwriting (i.e.,
assuming the risk and assigning premiums) insurance policies to protect the owners of real estate
or real estate creditors against loss sustained by reason of any title defect to real property.
Cross-References.
- Establishments primarily engaged in reinsuring title insurance policies are classified in Industry 524130, Reinsurance Carriers.
524128 Other Direct Insurance (except Life, Health, and
Medical) Carriers
This U.S. industry comprises establishments primarily engaged in initially underwriting (e.g.,
assuming the risk, assigning premiums) insurance policies (except life, disability income,
accidental death and dismemberment, health and medical, property and casualty, and title
insurance policies).
Illustrative Examples:
Bank deposit insurance carriers, direct; Product warranty insurance carriers, direct;
Deposit or share insurance carriers, direct; Warranty insurance carriers
(e.g., appliance, automobile, homeowners, product), direct.
Cross-References. Establishments primarily engaged in
- Reinsuring insurance policies - classified in Industry 524130, Reinsurance Carriers;
- Initially underwriting annuities and life insurance policies, disability income insurance policies, and accidental death and dismemberment insurance policies - classified in U.S. Industry 524113, Direct Life Insurance Carriers;
- Initially underwriting health and medical insurance policies - classified in U.S. Industry 524114, Direct Health and Medical Insurance Carriers;
- Initially underwriting property and casualty insurance policies - classified in U.S. Industry 524126, Direct Property and Casualty Insurance Carriers; and
- Initially underwriting title insurance policies - classified in U.S. Industry 524127, Direct Title Insurance Carriers.
52413 Reinsurance Carriers
See industry description for 524130 below.
524130 Reinsurance Carriers
This industry comprises establishments primarily engaged in assuming all or part of the risk
associated with existing insurance policies originally underwritten by other insurance carriers.
Cross-References. Establishments primarily engaged in
- Initially underwriting annuities and life insurance policies, disability income insurance policies, accidental death and dismemberment insurance policies, and health and medical insurance policies - classified in Industry 52411, Direct Life, Health, and Medical Insurance Carriers; and
- Initially underwriting various types of insurance policies (except life, disability income, accidental death and dismemberment, and health and medical insurance policies) - classified in Industry 52412, Direct Insurance (except Life, Health, and Medical) Carriers.
5242 Agencies, Brokerages, and Other Insurance Related Activities
This industry group comprises establishments primarily engaged in (1) acting as agents (i.e.,
brokers) in selling annuities and insurance policies or (2) providing other employee benefits and
insurance related services, such as claims adjustment and third party administration.
52421 Insurance Agencies and Brokerages
See industry description for 524210 below.
524210 Insurance Agencies and Brokerages
This industry comprises establishments primarily engaged in acting as agents (i.e., brokers) in
selling annuities and insurance policies.
Cross-References.
- Establishments primarily engaged in underwriting annuities and insurance policies are classified in Industry Group 5241, Insurance Carriers.
52429 Other Insurance Related Activities
This industry comprises establishments primarily engaged in providing services related to
insurance (except insurance agencies and brokerages).
Illustrative Examples:
Claims adjusting; Insurance plan administrative services; Insurance adjusting.
Cross-References. Establishments primarily engaged in
- Managing the portfolio assets (i.e., funds) of others - classified in Industry 52392, Portfolio Management;
- Acting as agents (i.e., brokers) in selling annuities and insurance policies - classified in Industry 524210, Insurance Agencies and Brokerages; and
- Providing actuarial consulting services - classified in Industry 54161, Management Consulting Services.
524291 Claims Adjusting
This industry comprises establishments primarily engaged in investigating, appraising, and
settling insurance claims.
Learn about operating an Auto Insurance Claims business.
524292 Third Party Administration of Insurance and Pension Funds
This U.S. industry comprises establishments primarily engaged in providing third party
administration services of insurance and pension funds, such as claims processing and other
administrative services to insurance carriers, employee-benefit plans, and self-insurance funds.
Cross-References. Establishments primarily engaged in
- Managing the portfolio assets (i.e., funds) of others - classified in Industry 523920, Portfolio Management; and
- Providing actuarial consulting services - classified in U.S. Industry 541612, Human Resources and Executive Search Consulting Services.
524298 All Other Insurance Related Activities
This U.S. industry comprises establishments primarily engaged in providing insurance services on
a contract or fee basis (except insurance agencies and brokerages, claims adjusting, and third
party administration). Insurance advisory services and insurance ratemaking services are included
in this industry.
Cross-References. Establishments primarily engaged in
- Providing actuarial consulting services - classified in U.S. Industry 541612, Human Resources Management and Executive Search Consulting Services;
- Acting as agents (i.e., brokers) in selling annuities and insurance policies - classified in Industry 524210, Insurance Agencies and Brokerages;
- Insurance claims adjusting - classified in U.S. Industry 524291, Claims Adjusting; and
- Third party administration services of insurance and pension funds - classified in U.S. Industry 524292, Third Party Administration of Insurance and Pension Funds.
Information courtesy of the U.S. Census Bureau.
